Which of the following statements best describes consumer confidence as measured by the consumer confidence index, from just prior to the Great Recession until late 2008.
a. According to the consumer confidence index, consumer confidence averaged around 90 prior to the Great Recession, and then it fell to below 50 in late 2008, which was the lowest it had been since 1980.
b. According to the consumer confidence index, consumer confidence averaged around 80 prior to the Great Recession, and then it fell to below 50 in late 2008, which was the lowest it had been since 1980.
c. According to the consumer confidence index, consumer confidence averaged around 90 prior to the Great Recession, and then it fell to below 60 in late 2008, which was the lowest it had been since 1980.
d. According to the consumer confidence index, consumer confidence averaged around 80 prior to the Great Recession, and then it fell to below 60 in late 2008, which was the lowest it had been since 1980.
c. According to the consumer confidence index, consumer confidence averaged around 90 prior to the Great Recession, and then it fell to below 60 in late 2008, which was the lowest it had been since 1980.
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A) it had no mechanism for enforcing its rules. B) prominent segments of world trade, including trade in agriculture and services, were not covered by GATT rules. C) member countries could veto GATT rulings not in their interests. D) All of the above.
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a. possible b. impossible c. likely d. unlikely
A market failure will occur when all benefits are internalized
Indicate whether the statement is true or false
The case for government stabilization policy is made more compelling if the
a. self-correcting mechanism works very slowly. b. self-correcting mechanism works too fast. c. value of the multiplier is very small. d. aggregate supply curve is very flat.